WINNIPEG, Aug. 8, 2019 /CNW/ - DELTA 9 CANNABIS INC.
(TSX-V: DN) (OTCQX: VRNDF) ("Delta 9" or the "Company") is pleased
to announce that is has received conditional approval from the
Toronto Stock Exchange (the "TSX") to graduate from the TSX Venture
Exchange ("TSXV") and list its common shares (the "Common Shares"),
Common Share purchase warrants expiring December 28, 2019 (the "2017 Warrants"), Common
Share purchase warrants expiring July 17,
2022 (the "2019 Warrants") and 8.5% unsecured convertible
debentures (the "Debentures") on the TSX.
"We are very excited to be in the final stages of qualifying to
be up listed to the TSX. This is a major milestone in our strategic
growth plan and for our shareholders," said John Arbuthnot, Chief Executive Officer of Delta
9. "This eventual listing on the TSX will help to increase trading
liquidity, provide access a growing investor base interested in the
cannabis industry, and raise capital for further investments."
Final approval of the listing is subject to the Company meeting
certain standard requirements of the TSX on or before November 5, 2019. The Company expects to satisfy
all of the requirements and will make a further announcement once
the TSX has issued a bulletin confirming the date on which trading
on the TSX will commence. Upon completion of the final listing
requirements, the Common Shares, 2017 Warrants, 2019 Warrants and
Debentures will be delisted from the TSXV and begin trading on the
TSX under the symbols, "DN", "DN.WT", "DN.WT.A" and "DN.DB",
respectively.
"As one of Canada's only
vertically integrated cannabis companies, we are excited about the
opportunities in this rapidly growing market to drive shareholder
value and continue Delta 9's success story. The TSX is the premier
listings destination and this achievement highlights the strength
of our experienced management and team, our commitment to growing
shareholder value," said John
Arbuthnot, Chief Executive Officer of Delta 9.
About Delta 9 Cannabis Inc.
Delta 9 Cannabis Inc. is a vertically integrated cannabis
company focused on bringing the highest quality cannabis products
to market. Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech
Inc., is a licensed producer of medical and recreational cannabis
and operates an 80,000 square foot production facility
in Winnipeg, Manitoba,
Canada. Delta 9 owns and operates a chain of retail stores
under the Delta 9 Cannabis Store brand. Delta 9's shares trade on
the TSX Venture Exchange under the symbol "DN" and on the OTCQX
under the symbol "VRNDF". For more information, please visit
www.delta9.ca.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the Company's future business plans and other matters.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future.
Forward-looking statements in this news release include
statements relating to the Company satisfying all of the listing
requirements of the TSX on or before November 5, 2019 and the Company's expectation of
receiving final approval from the TSX to list the Common Shares,
2017 Warrants, 2019 Warrants and Debentures on the TSX.
Such statements are subject to risks and uncertainties that may
cause actual results, performance or developments to differ
materially from those contained in the statements,
including the Company being able to satisfy the listing
requirements of the TSX and the risk factors set forth in
the annual information form of Delta 9 dated April 30,
2019 which has been filed on SEDAR.
No assurance can be given that any of the events anticipated
by the forward-looking statements will occur or, if they do occur,
what benefits the Company will obtain from them. Readers are urged
to consider these factors carefully in evaluating the
forward-looking statements contained in this news release and are
cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by these
cautionary statements. These forward-looking statements are made as
of the date hereof and the Company disclaims any intent or
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or results or
otherwise, except as required by applicable securities
laws.
SOURCE Delta 9 Cannabis Inc.
